I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
U.S. Rep. Ben Ray Luján, a northern New Mexico Democrat, announced that he signed on as a cosponsor the Credit Cardholder’s Bill of Rights, H.R. 627. U.S. Rep. Carolyn Maloney is the lead sponsor on the bill.
The legislation, which was approved today in the House Financial Services Committee, would increase protections against “unfair and misleading credit card practices.”
“During these difficult economic times, families from across New Mexico are struggling to make ends meet and those struggles are being made more difficult by misleading and unfair credit card practices,” said Luján in a statement.
“This legislation will take common sense and responsible steps to protect families from unfair credit practices. These fair steps will protect families from retroactive charges, excessive fees, arbitrary rate increases and misleading terms.”
The bill would amend the Truth in Lending Act to institute greater transparency and increased consumer protection. OpenCongress has the summary from the House Financial Services Committee.
OpenCongress also looked at the chances of the bill passing.
The Republican support in Committee today on the bill, as amended, indicates that it will have no problem getting through the full House. In the Senate, however, where a somewhat tougher version (S. 414) passed the Banking Committee without a single Republican vote, it will face an uphill climb and may end up being weakened.
